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Benzinga

Business

Akanksha Bakshi

Perma-Fix, Westinghouse Plan To Develop Advanced Materials Treatment Facility In UK

Westinghouse United Kingdom

Perma-Fix Environmental Services Inc (NASDAQ:PESI) and Westinghouse Electric Company signed a term sheet at the 2022 Waste Management Symposia, indicating plans to develop a state-of-the-art advanced materials treatment facility in the U.K. Financial terms were not disclosed.
The facility aims at expanding waste treatment capabilities for the European nuclear market. Westinghouse will own 55% of the initiative, and Perma-Fix will own the balance.
The new facility will incorporate the Perma-Fix Bulk Processing Unit (BPU), a vessel designed to treat radioactive materials. The BPU accepts various material types while reducing waste volume by 30 to 100 times.
Price Action: PESI shares are trading lower by 2.36% at $5.80 on the last check Monday.

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